Post
Topic
Board Bitcoin Discussion
Re: Bitcoin transaction fees have disappointed me today
by
coupable
on 27/12/2023, 21:43:12 UTC

Ok, let's forget Binance withdrawal fees. If I want to make transactions from the ledger, then the transaction has to arrive in 15 minutes. I am pretty sure if I want to ensure the time frame, then I have to spend similar fees, even from Ledger. So it's become hard to pay $17 transaction fees to make a $50 deposit. And by force, I had to use a virtual card that doesn't cost anything (I didn't notice any significant fees) and was an instant transaction as well. It made me believe that we are drifting away from Bitcoin's original goal in some way.
To some extent what you say is true. If the classical system is able to compete with Bitcoin in terms of transfer speed and fees, then Bitcoin will lose its position.
Bitcoin community is confident that this is periodic and it will pass, meaning that the situation is not permanent as has happened throughout the history of Bitcoin, and this is actually what is supposed to happen. Most of us still believe this, if my estimates are not wrong, given that this is not a new event.

Our assessment of things will not remain the same if the network continues as it is today.